Overview

• Spain closed the third quarter with a 4.8% quarterly fall in rents but a 14.3% annual increase, according to Fotocasa.
• The Community of Madrid averaged €21.38 per m2 in September, up 9% year over year and the highest in the series, with districts like Salamanca, Centro and Chamberí above €23 per m2.
• Fotocasa’s María Matos says the slowdown does not signal a structural change as demand remains strong and access continues to deteriorate.
• In the Canary Islands, rents rose 7.2% year on year to €14.64 per m2, led by Las Palmas province at €15.13 per m2, with quarterly gains in cities such as San Cristóbal de La Laguna (+7.1%).
• Valencia held at €15.4 per m2 in September per Idealista, with the Jesús neighborhood down 1.7% to €13.4 per m2 as listings are rented quickly and a typical 70 m2 flat would cost about €938 a month.